Uwaleke Seeks Credible Delivery Framework for New Capital Market Master Plan.
The NCMMP 2.0 (2026-2036), which was launched in Abuja recently by Vice-President Kashim Shettima, is a roadmap designed to expand Nigeria’s capital market from about N250 trillion to N750 trillion by 2036.
In an article titled ‘NCMMP 2.0: The Gaps in National Alignment and Inclusive Consultation,’ which he made available to THISDAY, Uwaleke described the Master Plan as a commendable and ambitious undertaking that deserves recognition.
He said: “The Securities and Exchange Commission (SEC), the sponsors, FSD Africa and the Foreign, Commonwealth & Development Office (FCDO), and the consortium of consultants led by Genesis Analytics and Bourse Consult deserve commendation for investing the expertise, resources and collaborative effort required to articulate a strategic vision for Nigeria’s capital market over the next decade.
“The aspiration to build a diverse, efficient, transparent and innovative capital market that positions Nigeria as a regional financial hub and mobilizes the capital needed to drive wealth creation and a US$1 trillion economy by 2030 is quite compelling. There is every reason to be confident that the plan can make a meaningful contribution to Nigeria’s economic transformation. “However, the success of a masterplan of this magnitude will depend not only on its aspirations and proposed reforms, but also on the realism of its time horizon, its alignment with national development priorities, the inclusiveness of its formulation and the strength of the institutional arrangements for its implementation.” Uwaleke, who is the Director of the Institute of Capital Market Studies, Nasarawa State University, Keffi, observed that one fundamental question was whether a 10-year implementation horizon, spanning 2026-2036, is the most appropriate framework for the NCMMP 2.0. He argued that while a long-term vision was necessary for transforming a capital market, the implementation programme must be anchored in a timeframe that is sufficiently realistic, measurable and aligned with the country’s prevailing economic policy framework.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with THISDAY.